Phuket Hotels MarketView - Q1 2015

Flat Phuket performance, despite improvements in Thailand arrivals

QUARTERLY HIGHLIGHTS

• According to the Airport of Thailand (AOT), Phuket passenger arrivals grew by 3% Y-o-Y to 991,595 in Q1 2015.
• Based on statistics from STR Global, Occupancy of all grade hotels in Phuket was at 81.5% dropping by 1.6 points Y-o-Y. Average Daily Rate (ADR) also decline by 3.8% Y-o-Y.
• There were no new hotel opening in Q1 2015.

OUTLOOK

The Phuket Hotel story is similar to Bangkok’s with a slower hotel construction starts, and less new hotel announcements, as this is partly due to a better knowledge by potential investors about the challenges of running hotel. We are quite positive on hotel demand; with tourist arrival continues to be a strong driving force, especially from China. If the growth trend continues to be as strong for the whole of 2015 in the similar fashion as quarter 1, ADR growth will be a real possibility.

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CONTACT

Robert McIntosh
Executive Director - CBRE Hotels, Asia Pacific
O: +65 6326 1200
M: +65 8123 0208
E: robert.mcintosh@cbrehotels.com